best french property

If you have always dreamed about buying an apartment or a house in France, but have been reluctant to think that it is too difficult for a foreigner, it is time once again. The purchase of a property in France is much simpler than most people believe. Here are a few basic factors that you should consider if you are indeed interested in acquiring real estate in France.

1. It is not difficult to buy a property in France than in the U.S.

Despite popular images of a Napoleon complex code, modern French laws make it easy for anyone, even a foreigner, to buy property. Thanks to the notaire system, government regulation and to the reliability of sales deeds, the purchase of a property in France are less nerve-wracking, as transactions in other countries.

2. The notaire system is an essential factor in all real estate transactions

A notaire is the French lawyer, especially in French real estate law, who prepares the compromis de vente (sale) and all other documents, including the sales deed, in connection with the transfer of property in France. Without exception, all the buying and selling of property in France needs to be done under the aegis of a notaire. The notaire system is the main reason that the real estate transactions in general, so well in France.

3. You do not have to speak French to buy a property

France has doubled in the last thirty years. Gone are the days when you have problems, someone to find in France would even say a word in English. France has moved from this narrow-minded attitude, and the change is mainly in the field of real estate.

A competent property acquisition, the bilingual staff providing you with the purchase of a property in France. On the buyer on behalf of the company may also be a notaire, who fluently in English and experienced in dealing with purchases by foreign buyers.

Of course, it is desirable in order to learn French to make your long-term benefit of France, but you do not need immediately.

4. You need to open a bank account in France with regard to the acquisition of property

For the purchase of a property, you must have an account with a French bank, ideally with a bank that can convert currency from other countries. The account should be a regular checking account, so you can for automatic withdrawals recurring fees to pay, such as bills and mortgage payments.

It is not difficult, a French bank account. The entire process takes only a few minutes. The account can be opened by the proof of identity (usually a passport), and signing a few documents, including a signature card.

5. You can use a mortgage in France

If you have a mortgage you can by a French bank. A good property acquisition may recommend qualified lenders that are accustomed to working with foreign buyers.

As French law requires life insurance on the loan, so that the lender in case the borrower's death, older buyers may have to perform certain medical requirements and can be slightly higher payments.

Interest rates are currently at around 4-4.5 per cent on a loan with a fixed interest rate. This rate includes the cost of life insurance on the loan. For this reason, the buyer of 60 years pay a slightly higher percentage.

Payments from 10 to 50%, but if you do not have French citizenship, the deposit is usually at least 20%.

A strategy for financing the acquisition of a property in France, it is a second mortgage on a property in their own country and then use the proceeds to pay for your property in France.

6. Property taxes and insurance are not higher than in the United States or Great Britain

Real estate taxes in France are generally lower - in some cases is substantial - as authorized by the owner in the United States.

Thus annual taxes (including taxes and a local resident of the tax) on a property worth € 600,000 in the Vaucluse département in Provence, about 1,400 € a year. Taxes will vary according to the local jurisdiction.

Likewise, insurance costs are also reasonable. Take, for example, the cost of homeowners insurance on a 300 m2 (3,200 sq ft) house in Provence with Pool and contents insured for € 40,000. The annual premium is approximately € 800. The premium for an apartment of 100 m2 (1,075 sq ft) on the 7th Arrondissement of Paris, with the contents insured for € 25,000 is € 650.

So, let no prejudice in the way of acquiring your dream property in France. Find a reliable bilingual acquisition of property companies to help, and searching for the house or apartment that is just right for you.

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